Ripple and SEC to Potentially File Appeals in XRP Lawsuit: Lawyers Weigh In
The post Ripple and SEC to Potentially File Appeals in XRP Lawsuit: Lawyers Weigh In appeared on BitcoinEthereumNews.com.
The recent Ripple v. SEC lawsuit has garnered significant attention in both financial and crypto sectors. Key discussions among legal experts revolve around the potential appeals in the coming months. Notably, Judge Analisa Torres’ rulings and quotes from involved parties are at the center of these discussions. Explore the latest developments in the Ripple SEC case and understand the possible legal maneuvers ahead. Gain insights from industry experts and key stakeholders’ perspectives in this detailed report. Judge Torres Issues Final Judgment in Ripple SEC Case In a landmark decision, Judge Analisa Torres issued a final judgment in the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). The court concluded that Ripple should pay $125 million in penalties, a significant reduction from the initially aimed $2 billion by the SEC. Furthermore, Ripple has been permanently enjoined from selling XRP to institutional investors without adhering to a registration statement. Immediate Reactions and Statements from Ripple Executives Ripple’s CEO, Brad Garlinghouse, and Chief Legal Officer, Stuart Alderoty, expressed their satisfaction with the court’s decision, describing it as a major win for the company, the crypto industry, and the rule of law. Garlinghouse noted, “The SEC asked for $2 billion, and the Court reduced their demand by approximately 94%, recognizing that they had overplayed their hand. We respect the Court’s decision and have clarity to continue growing our company.” Potential Appeals by the SEC and Ripple Despite reports suggesting that the SEC might not appeal the ruling, legal experts anticipate possible appeals from both sides. Former SEC lawyer Marc Fagel elaborated that the SEC has a 60-day window to file an appeal. Should the SEC decide to move forward with an appeal, any penalties paid by Ripple might be held in abeyance pending resolution. Analysis and Insights from…
Filed under: News - @ August 11, 2024 12:16 am